Gold industry in Rajkot passing through a lean phase

December 13th, 2008 - 4:43 pm ICT by ANI  

By Suresh Parikh
Rajkot, Dec 13 (ANI): The gold industry in Rajkot is passing through a lean phase as most of the orders placed by Mumbai’’s traders were cancelled or put on hold after Mumbai militant strikes.
Nearly 50,000 workers are employed in various gold-manufacturing units across the city.
A jewellery trader from Rajkot, Krishnakant Patadia, said that prior to Mumbai terror strike, the market was functioning well and artisans were working from morning till evening, but now they are working only for four to five hours.
“Prior to Mumbai Terror attack, the market was functioning well. The artisans were working non-stop for 15 to 16 hours. But now, the entire work has stopped. Now, we all work for four to five hours. Our clients are now canceling their orders,” said Krishnakant.
Another trader Ajay Jogiya, asserted that the city traders are facing 60 to 70 per cent loss on orders.
“The Rajkot jewellery industry is passing through a tough time. After Mumbai attack, the traders from Rajkot are facing 60 to 70 per cent loss on orders. The orders which were placed earlier were cancelled despite the ornaments being ready for the delivery,” said Ajay.
Rajkot is one of the major gold markets of India. It is believed that alone Rajkot market consumed nearly 1000 kilograms of gold every day. (ANI)

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